Economics

Problem:

For most of us, no matter how hard we work throughout out life, we wind up having to depend on government subsidies in our retirement.

According to a report from the U.S. Department of Health Education and Welfare, out of one hundred people studied, at the age of sixty-five, one is rich, four are comfortable, five are still working, fifty six need government supports or family support, and the rest are dead.

Reason:

Speculation seems to be the only way to wealth

Real economic growth should come from an improved utilization of natural resources through technological advancement and higher productivity. This is real economic value. In Hong Kong, the only way it seems for most people to make enough money to live comfortably and keep up with the escalating cost of living is from windfalls in the stock market or from property speculation. Holding a regular job cannot guarantee a decent living anymore. Many lose their life time savings in the speculative market.

Currency system

Even though we work regularly day in and day out, month by month, year by year and there are no natural catastrophes, somehow, our economy undergoes periodic ups and downs. Underlying this problem is the basic structure in our currency system which allows international bankers to create inflation and deflation at will. This is a problem of international scale and cannot be solved by Hong Kong alone.

Solution:

Reduce superfluous business regulations

We need to encourage entrepreneurship in small business by reducing unnecessary business regulations that often favor big companies, and cut down bureaucratic processes to create a more vibrant economy.

Show who really control our economy

We need to educate the public on the true nature of our economic system in our basic education so that we can manage our finances more prudently.